Gaining finance as a business owner
It can oftentimes be challenging for business owners and the self-employed to obtain finance. However, there are a number of steps you can take to make sure the banks will assess you favourably when you are trying to obtain your next loan.
For regular wage earners, getting finance can often be as simple as submitting two payslips to your lender or mortgage broker. However, business owners and people who are self-employed are faced with a far more arduous process when looking to obtain finance from both banks and lenders.
The issue for self-employed borrowers is that more often than not, they have irregular income and for lenders, this can be a problem.
One of the ways lenders get…